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Question : Ramesh marks his article at Rs. 6,000, and after allowing a discount of 20%, he still earns a 60% profit. What is the cost (in Rs.) of the article?

Option 1: 3,600

Option 2: 4,800

Option 3: 3,000

Option 4: 4,200


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: 3,000


Solution : Let the cost price be denoted as CP, the mark price be MP and the selling price be SP.
Let CP be Rs. $x$.
Profit = 60%
SP = CP + Profit = $x$ + 60% of $x$
= $x + 0.6x$
= $1.6x$
MP = Rs. 6,000
Discount = 20% of 6000 = $\frac{20}{100} × 6,000$ = 1,200
SP = MP – Discount = 6000 – 1200 = 4,800
Now, $1.6x = 4,800$
$x$ = $\frac{4800}{1.6}$
= Rs. 3,000
Hence, the correct answer is 3,000.

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